A project may be a temporary endeavor undertaken to create a unique product or service. An idea or concept may be reviewed and developed into an initiative that may be developed into a project or a group of related projects. An initiative that is small in scope requires a limited level of effort over a limited amount of time, such as six people working for six months, and may be assigned to a project management team to develop the initiative as a single project. An initiative that is large in scope requires a significant level of effort over a significant amount of time, such as eighteen people working for eighteen months, and may be assigned to a program management team to develop the initiative as a group of related projects. A program management team has a capacity to manage a group of related projects in a coordinated manner to obtain benefits and control that may be unavailable when managing the group of related projects individually. A program management team (by contrast with a project management team) may manage a single initiative that is developed as multiple projects or manage independent projects that compete for the same resources, technology, or binding characteristics requiring close coordination. Program management focuses primarily on providing the framework for optimizing business value delivery and reducing risk to business investments while maintaining an understanding of budget, scope and cost. In contrast, project management focuses primarily on meeting scope, cost, and schedule objectives.